Long
Record financials warrant a re-rating
Q3 2021 results warrant a re-rating of this $30M mkt cap biotech play:
- Revenue was $25.3 million in the third quarter of 2021, up 575%, compared to $3.7 million over the prior three-month period ending June 30, 2021.
- Gross profit was $10.5 million in the third quarter of 2021, up 1,288%, compared to $753,535 over the prior three-month period ending June 30, 2021.
- Net income was $6.8 million in the third quarter of 2021, compared to a net loss of $8.7 million over the prior three-month period ending June 30, 2021.
- Revenue was $25.3 million in the third quarter of 2021, up 575%, compared to $3.7 million over the prior three-month period ending June 30, 2021.
- Gross profit was $10.5 million in the third quarter of 2021, up 1,288%, compared to $753,535 over the prior three-month period ending June 30, 2021.
- Net income was $6.8 million in the third quarter of 2021, compared to a net loss of $8.7 million over the prior three-month period ending June 30, 2021.
Note
Bollinger Squeeze breakout on the weekly chart points to a bigger coming move. COVID-19 cases are spiking across Europe which always tends to trickle down to the US. Next quarter is likely to be even better for MEDV.Note
Key points from November 30, 2021 Webinar:-------------------------------------------------------
- New CEO joined the company on May 1, 2021; found it to be in financial distress with $20M+ in debt, $100K cash remaining, losing $150K - $200K per week.
- Saw opportunity in COVID-19 testing that was generating strong revenue. Cut money losing projects and expenditures and tightened up overall spending.
- Saw an overnight 78% increase in foot traffic at the testing sites.
- Transitioned from cash based model to insurance based by implementing a new software suite. The changes allow the company to connect to 700,000+ different insurance companies and replaced 20 - 30 in-house employees. 99%+ of the US population qualify for free COVID-19 tests under this new model.
- Rolled out second software suite to streamline patient registration online.
- By Q3 2021, saw 3,000 patients per day (18,000 per week). $180 USD per patient = $3.2M USD per week gross revenue.
- Currently seeing 6,000 patients per day and operating at maximum capacity
- Looking to add two more COVID-19 tests to the existing 3-test package and to bring the per patient revenue up from $180 to $410 USD by Q1 2022.
- Q4 2021 revenue is expected to be as strong or stronger than Q3
- Beginning transition from pure COVID-19 testing play into AI/Telehealth with 5 - 10 new pilot sites opening in the next few months.
- New platform will target testing for COVID-19, flu, diabetes, cancer, stroke risk and more. Goal is to use the AI and Big Data to disrupt the US healthcare system by streamlining registration, patient sample collection, on-site and at-home visits and doctor referrals.
- Conservative estimate for 2022 gross yearly revenue: $200M - $300M USD.
- Main competition: TeleDOC ($16.2B USD mkt cap).
- NASDAQ uplisting in 2022. No immediate reverse split. Will concentrate on growing shareholder value.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.